Norwegian papermaker Norske Skog posts 4Q net loss

OSLO: Troubled global papermaker Norske Skog on Thursday reported a net loss for the fourth quarter of 1.28 billion kroner ($185 million) compared to a year-earlier loss of 683 million kroner due largely to reduced accounting values for long-term contracts with electricity suppliers.

However, the Norwegian company’s shares rose more than six percent to 15.40 kroner ($2.23) in morning trading on the Oslo stock exchange because the results exceeded market expectations, and the company was upbeat in reporting increased revenues and operating income.

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